The range of lifetime mortgage products delivered by Responsible Lending in partnership with Royal London Equity Release is being rolled out more widely to reach more equity release advisers.
The products were launched in June by Responsible Lending and Royal London. Now, access is being expanded to all advisers through the Air Sourcing, Iress and Advise Wise platforms.
The Royal London Equity Release product range offers a Standard product and a Premier product. The Standard product is available to customers aged 55 to 84 years and six months with a minimum property value of £125,000 and a maximum value of £2 million.
The Premier product offers the same age range and is better suited to customers with a high value property, above £2 million and with no maximum limit.
Both products offer the option to pay up to 10% of the total cash advance within each 12-month period.
Advisers using Air Sourcing will also be able to request instant Key Facts Illustrations (KFIs) for the products provided by Responsible Lending with a single click. This has already been implemented successfully through the sourcing platforms Advice Wise and The Exchange and will speed up and simplify the process for advisers who use Air Sourcing.
An experienced distribution team of three business development managers have been recruited to support advisers and their clients through the equity release journey. They are supported by a dedicated telephone business development team.
Chris Flowers (pictured), intermediary sales director at Responsible Lending, said: “We have seen great interest in the Royal London Equity Release products since launching in June, so we are delighted to make them available to even more advisers and their customers.
“Equity release remains an important later-life finance option, and we are pleased to see that there has been steady growth in customer activity during the second quarter of this year.
“We are sure these products will be popular with many customers, and our expanded distribution team means we have even more support available to help advisers navigate the often-complex equity release market.”